Lincoln Capital Corp Cuts Position in Costco Wholesale Co. (NASDAQ:COST)

Lincoln Capital Corp lowered its position in Costco Wholesale Co. (NASDAQ:COST) by 13.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 393 shares of the retailer’s stock after selling 61 shares during the quarter. Lincoln Capital Corp’s holdings in Costco Wholesale were worth $348,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Redmont Wealth Advisors LLC purchased a new position in shares of Costco Wholesale in the first quarter valued at $32,000. Financial Connections Group Inc. increased its position in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares in the last quarter. Bank & Trust Co purchased a new stake in Costco Wholesale during the 2nd quarter worth about $48,000. Ruedi Wealth Management Inc. increased its position in Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after purchasing an additional 25 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in Costco Wholesale during the 2nd quarter worth about $50,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the sale, the executive vice president now directly owns 10,202 shares in the company, valued at $9,091,512.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the sale, the executive vice president now directly owns 10,202 shares in the company, valued at $9,091,512.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total value of $431,940.00. Following the sale, the executive vice president now owns 23,800 shares in the company, valued at $20,560,344. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,636 shares of company stock worth $11,238,510 in the last three months. 0.18% of the stock is owned by insiders.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST opened at $891.22 on Friday. The company has a market cap of $394.87 billion, a P/E ratio of 53.79, a PEG ratio of 5.50 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. Costco Wholesale Co. has a one year low of $540.23 and a one year high of $923.83. The business’s 50-day simple moving average is $891.76 and its 200 day simple moving average is $839.41.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating the consensus estimate of $5.05 by $0.10. The business had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the business posted $4.86 EPS. On average, sell-side analysts forecast that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $4.64 annualized dividend and a yield of 0.52%. Costco Wholesale’s dividend payout ratio is presently 28.00%.

Analysts Set New Price Targets

COST has been the subject of a number of recent research reports. Sanford C. Bernstein initiated coverage on Costco Wholesale in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 price objective for the company. Wells Fargo & Company lifted their price objective on Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Redburn Atlantic cut Costco Wholesale from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $860.00 to $890.00 in a research report on Tuesday, September 10th. Tigress Financial reiterated a “buy” rating and set a $1,065.00 price objective on shares of Costco Wholesale in a research report on Thursday, October 17th. Finally, Roth Mkm raised their price target on Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $894.57.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.